Administration March 26, 2007

Watson Wyatt Settles Up Actuarial Litigation

March 26, 2007 (PLANSPONSOR.com) - Watson Wyatt has settled a lawsuit relating to actuarial services, paying $110 million to the trustees of the Iron Workers, Local No. 25 Pension Fund.
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According to a Securities and Exchange Commission  filing , the previously disclosed lawsuit related to actuarial services provided to the fund during the 1990s.   Watson Wyatt said that while it did not acknowledge any wrongdoing, it agreed to resolve the claim given the unpredictability of litigation.  

Under the terms of the settlement, a payment of $110 million will be made to the fund, the total amount of which is covered by the company’s professional liability insurance.

The settlement will have no impact on the company’s financial statements.

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